nd per Preferred Share" answer to $3$ decimal places.

Answer is complete but not entirely correct.

Answer is complete but not entirely correct.Year $1$ total cash dividends $ $19,800$

Year $2$ total cash dividends $29,500$

Year $3$ total cash dividends $285,000$

Year $4$ total cash dividends $435,000$

Exercise $13-12($Algo$)$ Dividends on common and cumulative preferred LO C$2$

York$$s outstanding stock consists of $90,000$ shares of cumulative $7\mathrm{.}0\%$ preferred stock with a $$5$ par value and also $160,000$ shares of common stock with a $$1$ par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: